UBS is the world's largest bank John Hancock which is owned by Manu Life. TIAA told us that in terms of their water use near their woodville area farm that it had become far more efficient they'd replaced 14 older wells with five new ones and installed drip irrigation systems. PSP said that they were abiding by new groundwater management regulations which restrict the amount of water they can pull out of the aquifer.
Despite the rain-soaked year California has had, the ongoing issues of drought and limited water remain. Bloomberg reporters Peter Waldman, Mark Chediak, and Sinduja Rangarajan join this episode to talk about how farms that grow lucrative cash crops like almonds and pistachios are digging deeper and deeper wells to tap the state’s dwindling groundwater supply–leaving people in some communities with less to drink.
Read the investigation here: Groundwater Gold Rush
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